Properties With Income Potential
I recently spent three days in London –a city in the sunshine packed to capacity with visitors and tourists –buzzing with open air concerts and the usual frenetic buzz synonymous with the capital. I was the victim of a pickpocket taking my i-phone. I realised just how much I rely on it and for a few days was functioning on two cylinders until the replacement arrived. Crime happens everywhere but with more people it seems almost commonplace, making me appreciate the relaxed lifestyle attainable in Devon. No wonder many of my London clients want to escape but struggle to get the work/life balance right. Well, it is possible with some acceptances –distance to the nearest latte maybe, accepting life is not “immediate” and time itself can be enjoyed. It’s all about compromise and reassessment of values, and maybe not running constantly in the outside lane to keep up.
The growing attraction of changing a lifestyle for all ages is helped by the road, rail and air network making Devon an accessible county. This brings a demand for the London edge to food and hospitality outlets, entertainment facilities etc. So why not Live the Dream - make the move- create the lifestyle. Buy a property with potential to create some, if not a full income.
Properties with income potential? Farms with barns to convert. holiday complexes, single units and cabins all create incomes. Find an angle that plays to the high end demand and people will pay good money for the quality for short term escapes. It may be hard work but creates a far less stressful lifestyle and in one of the most beautiful counties in England. It’s so easy to escape to the beach, or Dartmoor, immersing yourself in a lifestyle business.
Depending upon your ability and how involved you wish to be-and budget of course-there are some interesting lifestyle properties to be bought:
For the creative W 2Estates (01395 271800) are offering Hayne Farm at Whitestone . A farmhouse in 17 acres with immense potential, a courtyard of converted barns, some in need of updating, all within fifteen minutes of Exeter. Fields running down to some woodland and a lake giving opportunity for interesting leisure activities.
A little further south in the sought after village of Lustleigh is Rudge, offered by Jackson Stops and Staff (01392 214222). An imposing 6 bedroom Georgian house in 19 acres, enjoying wonderful southerly views yet within walking distance of the village. A good range of barns and stables, with self contained flat and all with conversion potential (subject to relevant permissions). A one off gem that will undoubtedly create interest.
Maybe the sea is a greater attraction that owning acres of land. Stags Exeter(01392 255202) are offering Rock Mansions In Budleigh Salterton. A building right on the sea front forming eight flats that could be enhanced to draw the attention of the London week end market. Similarly at Start Bay in South Devon Chartsedge (01392 832446) have an exciting lock up and leave apartment in Prospect House with an established holiday income where residents enjoy the use of pool and tennis court and look straight out to sea! A lucrative smaller investment.
As ever space minimises the chance to explore the enormous possibilities in the property market across Devon –so why not seize the chance –you will find “it’s all about coming home”,
Nigel Bishop
Founder & Managing Director of Recoco Property Search